Anika Therapeutics (ANIK) Outpaces Stock Market Gains: What You Should Know
Anika Therapeutics (ANIK) closed at $31.37 in the latest trading session, marking a +1.32% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.31%. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the medical technology company had gained 0.98% in the past month. In that same time, the Medical sector lost 2.83%, while the S&P 500 lost 1%.
Investors will be hoping for strength from Anika Therapeutics as it approaches its next earnings release, which is expected to be March 6, 2023. On that day, Anika Therapeutics is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 45%. Meanwhile, our latest consensus estimate is calling for revenue of $38.32 million, up 6.97% from the prior-year quarter.
Any recent changes to analyst estimates for Anika Therapeutics should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Anika Therapeutics is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ANIK in the coming trading sessions, be sure to utilize Zacks.com.
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Anika Therapeutics Inc. (ANIK) : Free Stock Analysis Report
